Monday, March 31, 2008

Spunky PE - J.M.Trivedi of Actis

Besides Renuka Ramnath [CEO, ICICI Venture] whom I admire a lot in Indian PE scene, J.M.Trivedi of Actis has demonstrated spunk. Here he is getting a professional CEO for Ahmedabad based Paras Pharma (makers of MOOV, DERMICOOL, KRACK) knocking back family management to a corner.

ICICI and Actis can be counted among the few buyout funds active in India. Most others settle for negotiated PIPE investments in listed firms or do some odd venture capital investments in unlisted firms. Their fortunes glide along the directions of equity markets and fund managers have no active participation besides attending board meetings and scanning dull reports. Nothing of the sort where they take majority control and guide their fortunes themselves. It calls for strategic clarity besides pure spunk. That’s where the process discipline matters.

I wrote about Wockhardt back in March, 2007. Now after the IPO of its subsidiary (Wockhardt Hospitals) got pulled back, the deal looks even better. Mr.Trivedi, why don't you take a look?

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